- Synthetix coin price is currently observing a downside momentum in the daily chart and can soon revert to a new high. In contrast, SNX price has seen a gain of more than 1.8% in the past 24 hours
- Technical levels of has SNX hints towards a strong consolidation in price. In contrast, SNX/BTC pair has seen a gain of more than 2.36% in the past 24 hours.
Why Invest In SNX Crypto?
SNX crypto price is currently seeing a consolidated momentum and can soon revert to the uptrend. Synthetix token price is up by more than 1.8% and is trading near the value of $9.98. It is a decentralized finance protocol that provides on-chain access to a variety of platform users. The platform is based on the Ethereum (ETH) blockchain and it gives its users highly synthetic assets. It tracks and provides returns on the underlying asset without having to rely on the other networks. It was launched in September 2017 by Kain Warwick which was given under the name Haven. The network allows users to autonomously trade and exchange the asset. It also has a staking pool where users can stake their SNX tokens and are rewarded with a share of the transaction fees on the Synthetix Exchange.
SNX coin price market dominance along with the market cap is seeing a strong upside momentum. The volume of the coin can also observe a strong upside trend in the upcoming days. One can invest in SNX as per their needs and risk adversity
SNX Crypto Bull Trend Might Push The Price To A New High
Synthetix coin price is seeing a consolidated momentum which can push the price to a new high soon. It has seen a gain of more than 3.44% in the past 24 hours. The hostile region of the SNX can be seen near $15. The support of the coin while observing a downslide near $8. The asset price is currently trading below the 50 and 100 Daily Moving Average. The 100 DMA is near $10.7 acting as a temporary hostile region of the price. SNX/BTC pair can also observe a strong bullish trend in price. One can forecast a strong bullish trend in the future.
Conclusion
SNX coin price is currently observing a downtrend and can soon see a new high. SNX/BTC pair can also observe a new high in the upcoming days
Technical Levels:
Major Resistance: $15
Major Support: $7